To make sure things stay that way, the daily deal company is looking to raise more than $100 million in venture capital funding to fight off newcomers like LivingSocial, according to a report by Bloomberg News.

Both Groupon and LivingSocial, as well as a host of imitators, now offer deeply discounted offers for services, meals, and group activities from local merchants that have previously struggled to reach new customers online. The sites make money by convincing businesses to offer steep discounts, then selling those discounts directly to consumers and picking up the difference. The biggest opening for daily deal sites, though, is a $133 billion market for local business advertising that they can make their own.